Companies Act 2014 section 1092

Remuneration of directors

Section 1092 establishes the default rules for how directors of a public limited company (PLC) are to be paid, including their remuneration and reimbursement of expenses.

• Directors' remuneration must be determined by shareholders at a general meeting, unless the PLC's constitution provides otherwise
• Remuneration is deemed to accrue on a day-to-day basis, meaning it builds up daily rather than being treated as a lump sum
• Directors are entitled to reimbursement of travelling, hotel and other expenses properly incurred in connection with board meetings, committee meetings, general meetings or other company business
• Where Chapter 8C (EU Shareholders' Rights requirements on remuneration policy and reporting) applies to a PLC, its requirements cannot be overridden or disapplied by this section or by the PLC's constitution